Cloudera (CLDR) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Cloudera (NYSE:CLDR) from a buy rating to a hold rating in a research note released on Tuesday.

According to Zacks, “Cloudera, Inc. develops and distributes software for business data which include storage, access, management, analysis, security, search, processing and analysis applications. Its products include Cloudera Enterprise Data Hub, Cloudera Analytic BD, Cloudera Operational DB, Cloudera Data Science & Engineering and Cloud Essentials. Cloudera, Inc. is headquartered in Palo Alto, California. “

Several other equities research analysts have also commented on CLDR. Needham & Company LLC upgraded Cloudera from a buy rating to a strong-buy rating and boosted their price objective for the stock from $23.00 to $31.00 in a research note on Monday. Rosenblatt Securities began coverage on Cloudera in a research note on Monday, July 9th. They set a neutral rating and a $17.00 price objective for the company. Wedbush began coverage on Cloudera in a research note on Thursday, October 18th. They set a neutral rating and a $17.00 price objective for the company. ValuEngine upgraded Cloudera from a hold rating to a buy rating in a research note on Thursday, November 1st. Finally, DA Davidson upgraded Cloudera from a neutral rating to a buy rating and set a $27.00 price target for the company in a research report on Thursday, October 4th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $21.67.

Shares of Cloudera stock traded down $1.21 on Tuesday, hitting $12.94. The company’s stock had a trading volume of 2,660,385 shares, compared to its average volume of 3,426,290. Cloudera has a 1 year low of $12.57 and a 1 year high of $22.42. The firm has a market cap of $2.12 billion, a PE ratio of -4.01 and a beta of 1.67.

Cloudera (NYSE:CLDR) last posted its quarterly earnings data on Wednesday, September 5th. The company reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.07. Cloudera had a negative return on equity of 58.05% and a negative net margin of 44.68%. The company had revenue of $110.30 million during the quarter, compared to analyst estimates of $107.68 million. During the same period in the previous year, the business earned ($0.17) EPS. Cloudera’s quarterly revenue was up 22.8% on a year-over-year basis. Sell-side analysts anticipate that Cloudera will post -1.16 earnings per share for the current fiscal year.

In other news, insider Michael Olson sold 27,619 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $18.22, for a total value of $503,218.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 165,714 shares of company stock valued at $2,623,805 over the last 90 days. Company insiders own 30.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLDR. Wells Fargo & Company MN lifted its holdings in Cloudera by 30.7% in the first quarter. Wells Fargo & Company MN now owns 86,831 shares of the company’s stock valued at $1,874,000 after acquiring an additional 20,384 shares during the last quarter. California Public Employees Retirement System acquired a new position in Cloudera in the first quarter valued at approximately $859,000. Russell Investments Group Ltd. acquired a new position in Cloudera in the first quarter valued at approximately $1,264,000. Principal Financial Group Inc. acquired a new position in Cloudera in the first quarter valued at approximately $220,000. Finally, Legal & General Group Plc lifted its holdings in Cloudera by 58.7% in the first quarter. Legal & General Group Plc now owns 37,801 shares of the company’s stock valued at $816,000 after acquiring an additional 13,975 shares during the last quarter. Hedge funds and other institutional investors own 72.49% of the company’s stock.

About Cloudera

Cloudera, Inc provides platform for machine learning and analytics in the United States, Europe, and Asia. The company operates through two segments, Subscription and Services. Its platform delivers an integrated suite of capabilities for data management, machine learning, and analytics to customers for transforming their businesses.

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